HOUSTON, Dec. 16, 2005 (PRIMEZONE) -- WCA Waste Corporation (Nasdaq:WCAA) announced today that Moody's' Investors Service upgraded the rating of WCA Waste Corporation. The upgrade acknowledges WCA Waste Corporation's continued progress in implementing its acquisition-based strategy, recent strong relative performance in terms of organic volume and price increases in excess of industry trends and a favorable pricing environment across the industry. Moody's took the following actions:
-- Upgraded to B2 from B3 $100 million guaranteed first lien credit
facility due 2010, including the proposed activation of the
$25 million accordion feature;
-- Upgraded to B2 from B3 $100 million guaranteed first lien credit
facility due 2011;
-- Affirmed the Caa1 rating of $25 million guaranteed second lien
term facility due 2011;
-- Upgraded to B2 from B3 the Corporate Family Rating.
Concurrently, Moody's assigned a Speculative Grade Liquidity rating of SGL-2 for WCA Waste Corporation. The ratings outlook is stable.
WCA Waste Corporation is an integrated company engaged in the transportation, processing and disposal of non-hazardous solid waste. The Company's operations consists of nineteen landfills, twenty-one transfer stations/material recovery facilities and twenty-three collection operations located throughout Alabama, Arkansas, Florida, Kansas, Missouri, North Carolina, South Carolina, Tennessee and Texas. The Company's common stock is traded on the Nasdaq National Market System under the symbol "WCAA."
The WCA Waste Corporation logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1736
RISK FACTORS AND CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release and other communications, such as conference calls, presentations, statements in public filings, other press releases, include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Forward-looking statements generally include discussions and descriptions other than historical information. These statements can generally be identified as such because the context of the statement will include words such as "may," "will," "should," "outlook," "project," "intend," "seek," "plan," "believe," "anticipate," "expect," "estimate," "potential," "continue," or "opportunity," the negatives of these words, or similar words or expressions. Similarly, statements that describe our plans, objectives, goals, expectations or intentions and other statements that are not historical facts are forward-looking statements. For example, descriptions of strategy are forward looking statements, including descriptions of our acquisition strategy and the benefits of any acquisition or potential acquisition.
As to acquisitions and acquisition strategies, on which our future financial performance will significantly depend, risks and uncertainties include, without limitation: we may be unable to identify, complete or integrate future acquisitions successfully; we compete for acquisition candidates with other purchasers, some of which have greater financial resources and may be able to offer more favorable terms; revenue and other synergies from acquisitions may not be fully realized or may take longer to realize than expected; we may not be able to improve internalization rates by directing waste volumes from acquired businesses to our landfills for regulatory, business or other reasons; businesses that we acquire may have unknown liabilities and require unforeseen capital expenditures; changes or disruptions associated with making acquisitions may make it more difficult to maintain relationships with customers of the acquired businesses; in connection with financing acquisitions, we may incur additional indebtedness, or may issue additional shares of our common stock which would dilute the ownership percentage of existing stockholders; and rapid growth may strain our management, operational, financial and other resources.
We describe these and other risks in greater detail in the sections entitled "Business -- Risk Factors" and "--Cautionary Statement About Forward-Looking Statements" included in our Annual Report on Form 10-K for the year-ended December 31, 2004, to which we refer you for additional information.